The S&P 500 recently followed a Head and Shoulder pattern. Today the neckline was reached but at the end of the day the index bounced at the neckline. It will be interesting to see if this holds going forward or if a larger correction follows.
Volume wise an increase in sellers can be observed, while at the same time the RSI demonstrates weakness of the bulls.
Volume wise an increase in sellers can be observed, while at the same time the RSI demonstrates weakness of the bulls.